Fintel reports that on July 24, 2023, Goldman Sachs downgraded their outlook for Halozyme Therapeutics (NASDAQ:HALO) from Buy to Neutral.

Analyst Price Forecast Suggests 15.82% Upside

As of July 6, 2023, the average one-year price target for Halozyme Therapeutics is 49.53. The forecasts range from a low of 26.26 to a high of $69.30. The average price target represents an increase of 15.82% from its latest reported closing price of 42.76.

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The projected annual revenue for Halozyme Therapeutics is 906MM, an increase of 28.58%. The projected annual non-GAAP EPS is 2.98.

What is the Fund Sentiment?

There are 939 funds or institutions reporting positions in Halozyme Therapeutics. This is a decrease of 4 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to HALO is 0.30%, a decrease of 33.19%. Total shares owned by institutions decreased in the last three months by 4.04% to 152,729K shares. The put/call ratio of HALO is 1.17, indicating a bearish outlook.

What are Other Shareholders Doing?

Artisan Partners Limited Partnership holds 6,992K shares representing 5.16% ownership of the company. In it’s prior filing, the firm reported owning 7,141K shares, representing a decrease of 2.13%. The firm decreased its portfolio allocation in HALO by 38.86% over the last quarter.

Snyder Capital Management L P holds 4,295K shares representing 3.17% ownership of the company. In it’s prior filing, the firm reported owning 3,984K shares, representing an increase of 7.25%. The firm decreased its portfolio allocation in HALO by 31.66% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,194K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 4,108K shares, representing an increase of 2.05%. The firm decreased its portfolio allocation in HALO by 36.73% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,171K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 4,176K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in HALO by 35.83% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,543K shares representing 2.62% ownership of the company. In it’s prior filing, the firm reported owning 3,483K shares, representing an increase of 1.68%. The firm decreased its portfolio allocation in HALO by 34.48% over the last quarter.

Halozyme Therapeutics Background Information
(This description is provided by the company.)

Halozyme is a biopharmaceutical company focused on bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. Halozyme advises and supports its biopharmaceutical partners in key aspects of new drug development with the goal of improving patients’ lives while helping its partners achieve global commercial success. Halozyme’s proprietary enzyme rHuPH20 forms the basis of the ENHANZE® technology and is used to facilitate the delivery of injected drugs and fluids, potentially reducing the treatment burden of other drugs to patients. Halozyme has licensed its ENHANZE® technology to leading pharmaceutical and biotechnology companies including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly, Bristol-Myers Squibb, Alexion, argenx and Horizon Therapeutics. Halozyme derives revenues from these collaborations in the form of milestones and royalties as the Company’s partners make progress developing and commercializing their products being developed with ENHANZE®. Halozyme is headquartered in San Diego.

This article originally appeared on Fintel

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